MoU signed between Hyosung Corporation and Govt. Of Maharashtra for the first Ultra Mega project in entire DMIC corridor in India

Hyosung Corporation (Group) has been allotted 100 Acres of land in AURIC CITY. It will have a total investment of USD 200Mn and generate employment for 1000 people.

The Chairman of Hyosung Group Mr. Cho Hyun-Joon has signed an MoU with Govt. of Maharashtra for the first Ultra Mega project in entire DMIC corridor in India. Construction of the factory will start in March 2018. Production to start from May 2019.

The largest global spandex producer Hyosung Corporation of South Korea is investing Rs 3,000 crore in a manufacturing unit in Aurangabad Industrial City, a greenfield smart industrial city being developed as a part of the Delhi-Mumbai Industrial Corridor. In the first phase of the project, the company will invest Rs 1,250 crore.

AURIC and Maharashtra have the best infrastructure, social ecosystem and incentive policies. More investments to follow in the coming months, said CM Devendra Fadnavis. During his visit to South Korea in September 2017, Maharashtra Chief Minister Devendra Fadnavis had met Hyosung Corporation president H S Cho.

The CEO of NITI Aayog Mr. Amitabh Kant also visited AURIC stall in Magnetic Maharashtra. He said, AURIC CITY is a next-gen city in India with world class infrastructure. He has assured to bring in more Korean investment to Auric.